Om Malik / On my Om:
Satya Nadella's memo on Microsoft's layoffs portends the harsh reality that AI could make software companies more profitable while employing fewer people  —  To paraphrase Sigmund Freud, sometimes a memo is not just a memo.  That's why we have to read between the lines of Satya Nadella's 1,150-word memo.

Rafe Uddin / Financial Times:
Sources: US suppliers are rebuffing Temu's efforts to undercut Amazon, saying Temu cannot undercut Amazon on branded product prices  —  Chinese online platform's hopes of undercutting ecommerce giant rebuffed by American suppliers  —  Temu's efforts to find US suppliers to rebuild …

Wall Street Journal:
Architect Partners: companies have raised nearly $86B in 2025 to buy crypto, with over $43B raised since June 1, as skeptics worry about the market overheating  —  Small companies are raising billions of dollars to buy bitcoin and other, more obscure cryptocurrencies.  What could possibly go wrong?

Financial Times:
US-German software firm Auterion says it plans to ship 33K of its AI drone “strike kits” to Ukraine by the end of 2025 to help combat mass Russian drone attacks  —  Pentagon-backed deal aims to help combat mass attacks by Russia  —  Sylvia Pfeifer in London, Laura Pitel in Berlin and Christopher Miller in Kyiv

Amin Haqshanas / Cointelegraph:
Tyler Winklevoss claims JPMorgan paused onboarding crypto exchange Gemini after he criticized the bank's data access fees for fintech and crypto companies  —  Tyler Winklevoss claims JPMorgan paused Gemini's onboarding after he criticized the bank's data access fees, calling the move anti-competitive.